46th G-7 SUMMIT via Videoconferencing
Source | The Hindu
GS Paper II: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.
Context: Recently, an announcement to host the 46th G7 summit in-person instead of remotely by videoconference was made by the US President Donald Trump.
- The annual G7 summit was scheduled to be held on June 10 to June 12, 2020 in Camp David, United States.
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What you need to know about Group of Seven (G-7)?
- Group of Seven (G-7) is a bloc of industrialized democracies i.e. France, Germany, Italy, the United Kingdom, Japan, the United States, and Canada.
- It is an intergovernmental organisation that was formed in 1975.
- The bloc meets annually to discuss issues of common interest like global economic governance, international security and energy policy.
- The G7 was known as the ‘G8’ for several years after the original seven were joined by Russia in 1997.
- The Group returned to being called G7 after Russia was expelled as a member in 2014 following the latter’s annexation of the Crimea region of Ukraine.
- The world’s biggest population and second-biggest economy, China has relatively low levels of wealth per head of population. Thus it is not considered as an advanced economy like other G7 members. Hence China is not a member of G7.
The G-7 Summits
- Summits are held annually and hosted on a rotation basis by the group’s members.
- The host country not only holds the G7 presidency but also sets the agenda for the year.
- The groundwork for the Summit, including matters to be discussed and follow-up meetings, is done by the sherpas, who are generally personal representatives or members of diplomatic staff such as ambassadors.
- The leaders of important international organizations like European Union, IMF, World Bank and the United Nations are also invited.
What are the Challenges and Concerns associated with G-7?
- Internally the G7 has a number of disagreements, e.g. clash of the USA with other members over taxes on imports and action on climate change.
- The organisation has also been criticised for not reflecting the current state of global politics or economics.
- There are no G7 members from Africa, Latin America or the southern hemisphere.
- It is also facing a challenge from fast-growing emerging economies, like India and Brazil are not members of the G7.
What is the India’s stand on G-7?
- The India’s participation at the 45th summit in Biarritz, France, is a reflection of deepening strategic partnership and recognition of India as a major economic power.
- While India has found it difficult to navigate diplomatically in the jurisdiction of European Union, a better relationship between India and European Union is emerging as a policy priority under G-7.
- Further, the ability of India to safeguard its core sovereign concerns such as trade, Kashmir issue and India’s relations with Russia and Iran can be discussed with G7 members.
- India raised issues on climate change and at meetings which signaled India’s growing willingness to lead on issues that are points of contention for countries like China and the USA.
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